2016 saw to a major hardware change from Apple when it introduced the iPhone 7 and iPhone 7 Plus, as it debuted its water-resistant, jackless handsets. But it looks like the Cupertino-based tech giant could introduce not just drastic cosmetic changes, but a third iPhone 8 model codenamed "Ferrari," according to latest reports.

Three separate iPhone 8 models expected

Normally, Apple launches two variants of the same model: a basic and a Plus (or S, like the iPhone 6S), as was the case with the iPhone 7 and iPhone 7 Plus. Express.co.uk, however, reported that manufacturing documentation for the device revealed a third iPhone 8 model codenamed "Ferrari."

This "Ferrari" model, the report further stated, is slated to feature some staple wish lists from Apple fans. For one, it's expected to sport glass panels to allow curved, borderless OLED displays. The model is also expected to drop the Home button in favor of a hidden fingerprint sensor technology instead.

Specs and upgrades for the iPhone 8 models

One minor, but definitely anticipated, change in the device are the new color variants. Apple is reportedly set to introduce Red alongside its current colors: Jet Black, Rose Gold, Silver and Gold. As for the other models, hardware upgrades such as the A11 chip, iOS 11 and a 5.8-inch screen are expected, according to Trusted Reviews.

Wireless charging is also expected for the newest iPhone release, the report said. Like the iPhone 7 and iPhone 7 Plus, the iPhone 8 will also sport the same defining features that now appear on its predecessors, such as water resistance, dual camera setup and wireless headphones.